Douglas Family Purchases Another $20M Of American Superconductor (AMSC) Stock

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07:51:49 pm on March 24, 2011

The Douglas family has controlled a significant portion of American Superconductor (AMSC) stock for a long time and they aren’t done yet increasing their share of the company.  According to InsiderCow.com the family has purchased around another $20 million of AMSC stock over the past week.  Late last year and on into January of this year, the family purchased around $40 million in AMSC stock.  I can’t say they are necessarily great market timers at least in the short term.  Much of the big buying spree late last year occurred when the stock was in the $35 – $37 range.  It now trades around $23/share.  However, they are doing just fine on the overall investment.

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In my opinion, while shares of AMSC remain technically weak and prone to further losses, shares may soon offer a terrific long term investment.  There is some support around the 21-22 area which is the 2009 low.  I just want to see lower volume selling and higher volume buying before jumping in.

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